the market is currently testing the weekly uptrendline on this pair. Whether it will lead to a bounce or break remains a mystery. However, price have been rejected, in the most recent price action, twice at the resistance zone around the 91.600 region. This formed a very firm neckline between 86.760 - 86.100 region. This is clearly visible on the weekly...
The market condition I have picked is that of an uptrend since the market is characterized by H.Hs and H.L s from the weekly timeframe to the daily. However the prices have attempted to break the 1.5760 region a couple of times but rejected. this is claerly visible on the daily timeframe. This rejection in the most recent price action resulted in the formation of...
This pair is currently painting the C wave. Therefore, new lows are expected. extra confluence is given by the head and shoulders pattern that is currently being built.
Prices have been struggling to break through resistance zone several times. We could expect rejection at this zone and make new lows.
The A B C D pattern has formed which quite resonates well with the fib levels and sup/dem areas if drawn correctly. The current price action might be forming a double top. However, the double top pattern would be confirmed upon the break and close below the neckline. A short position can be placed upon the neckline retest and paying close attention to the...
This might be a possible reversal on this pair. the pair made a new higher low when retesting the demand area and ultimately forming the left shoulder. This was followed by a rally which could be heading to the -27% of the Fib level. At that point, a close observation on the candlestick pattern formation is vital as it will indicate that the market is ready to...
The head and shoulders structure can be seen along with the A B C D structure. the second shoulder is currently being built around the very zone where the first shoulder has found resistance. Prices can be held around these zones before breaking through the neckline for a strong downtrend. A close below the neckline implies a strong downtrend
